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Buhari Has No Economic Blueprint – Group
Comrade Adeniyi Sulaiman, human rights activist, has lashed out at the economic situation in the country wondering why after five months of being in the saddle President Muhammadu Buhari’s government still lacked an economic blueprint.
Sulaiman, who is the Chairman of the Centre for Human Rights and Social Justice (CHRSJ) in a statement said President Buhari should know that Nigerians are not going to eat integrity alone but they need good governance with good economic direction that would make life bearable for them.
“Till this present moment, Buhari’s government lacks economic blue print and direction in governance which has led to an uproar in various State of the federation following submission of his ministerial nominees to the Senate”, said adding that this was as a result of the fact that “Buhari lacks cohesion within his ruling party by allowing internal democracy to operate in their folds”.
On the anti-corruption war, Sulaiman declared that the ongoing fight against graft by the present administration was selective and lacks direction, just as he stated that the noise through media propaganda has overriden the core value of the fight against the menace.
According to him, it would difficult for Buhari led-government to win any war against corruption by targeting only members of the opposition and political opponents.
He however described the development as parochial, ungodly, undemocratic and unconstitutional which negates Buhari’s inaugural speech during his swearin-in ceremony as elected President of Nigeria on May 29th, 2015, that “I belong to nobody and I belong to everybody”, insisting that there was no way a government could fight corruption without monitoring its agencies in charge of fighting the cankerworm that has eaten deep into the fabrics of the country system.
His words: «This is against the principle of fight against the menace of corruption which has been the bane of the country’s national development and also against the principle of equity, fairness and justice that is against the preamble of the amended 1999 Constitution which Mr. President took an oath to uphold without fear or favour.
“How can President Buhari defend some former All Progressives Congress (APC) governors that have one corrupt allegation or the other on their necks, without asking them to go and clear their names first. President Buhari goes against his anti-corruption stance by still sending their names to the Senate for screening and confirmation in the name of politics”, he posited.
Sulaiman reiterated that Buhari lacked credible defence in sending the names of those who have been alleged of one corrupt practice or the other, instead of President Buhari to defer their names, pending the provision of satisfactory report on them that exonerate them from the corrupt allegations but the presidency that claimed to be fighting corruption, was lobbying the senate now to clear the controversial personalities because Buhari wants them to be in his government at all cost.
“It is an eye opener and on record that only members of the opposition political parties and political opponents are being invited since June 1st, 2015 to October 20th, 2015 by the anti-graft agencies in the country.
He queried why the anti-graft agencies, particularly, the Economic and Financial Crimes Commission (EFCC) refused to investigate the petition forwarded to it by some Civil Society Organizations (CSOs) in which they raised corrupt allegations against some ministerial nominees? “Is it because they are members of the ruling party in the land? Or they wanted to be the Ministers in Buhari’s government”, he asked.
Federal government has unveiled a new policy for Nigerians to deposit dollar bills held outside the formal banking system without scrutiny.
Nigerians have nine-month deadline to do this according to Wale Edun, minister of Finance and coordinating minister of the Economy.
Edun who spoke after the Thursday’s National Economic Council (NEC) meeting in Abuja, said that “there will be no penalty; there will be no taxes, and there will be no questions.”
“There is going to be a release today, details by the federal government through the Ministry of Finance, in conjunction with the Central Bank, a programme, starting today, 31st of October, and lasting nine months, that will allow people to bring in cash that is outside the banking system.
“So therefore it is unsafe, it is unsecure and it is outside of legal limits. They will allowed forbearance to bring dollars cash. Let me emphasize once again, it is to bring dollars that they are holding outside the system to be able to bring them in and credit it to their bank accounts, as long as it is not proceeds of crime, illicit money.
“They just meet the normal ‘Know Your Customer’ criteria of banks and they have an opportunity to bring in those funds, make them safe, make them secure, and make them available through normal, economic activity.”
The minister also stated that 25 million Nigerians have benefitted from federal social protection initiatives, including digital outreach, microenterprise loans, and sector-specific support for power, agriculture, manufacturing, health, and compressed natural gas initiatives.
The National Insurance Commission, (NAICOM), on Wednesday, sacked the board of African Alliance Insurance Plc with effect from October 30, 2024.
The Commissioner for Insurance, Mr. Segun Omosehin, disclosed this during a press conference in its Lagos office, that an interim board and management have be appointed.
The new interim board are: Dr Haruna Mustafar, a former director at Central Bank of Nigeria; Anthony Achebe – Non-Executive and Haj. Halimatu M. Khabeeb – Non-Executive Director.
The management team is led by former Managing Director of International Energy Insurance and Cornerstone Insurance Plc, Jacob Erabor, as Managing Director/ CEO; Wasiu Amao – Executive Director, Technical and Ms. Oremeyi Longe – Executive Director, Finance.
He noted that the interim management has up to one year to turn around the company.
He said the decision follows an extensive monitoring and review of the company’s financial condition, governance, and operational practices, which revealed significant concerns regarding its ability to continue operating in a safe and sound manner which has for some time now generated a lot of uncertainty over claims settlement and payment to annuitants under the company.
The Interim Management Board, according to him will oversee the company’s operations, ensure compliance with regulatory requirements, and implement necessary reforms.
While noting that the Commission will work closely with all stakeholders, including annuitants, policyholders, employees, and investors, to minimise disruption and ensure continuity.
”The objective of this takeover is to protect the interests of African Alliance Insurance Plc’s annuitants, policyholders, other stakeholders, and the broader insurance industry while ensuring the company’s return to stability and compliance.
“The Commission is committed to maintaining the stability and integrity of the Nigerian insurance industry. Our actions today demonstrate our resolve to address concerns and protect the annuitants, policyholders and public interest.”
Economic and Financial Crimes Commission (EFCC) has arrested four suspected bank hackers in Abuja for alleged conspiracy, unauthorized access to banks’ computer systems and fraudulent withdrawal of depositors’ funds.
The suspects are Chima Anthony Nwigwe, suspected leader of the hacking syndicate alongside three others: Effiong Victor Emmanuel, Mohammed Bello Mahmud, the managing director, Downstone Ultimate Limited, and Daminan Ali.
Dele Oyewale, spokesperson, EFCC, said in a statement on Tuesday, that the suspects were arrested in a sting operation in Abuja following actionable intelligence about their suspected involvement in hacking, compromising databases of commercial banks, thereby causing fraudulent transfers and withdrawals through different digital platforms.
He also noted that the suspects would be charged to court upon conclusion of investigations.
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